Irish government to support more routes to Shannon Airport

The Irish Government has signed off The State Airports (Shannon Group) Bill 2014, which will set up a new commercial State company in Shannon comprising Shannon Airport Authority and a restructured Shannon Development to encourage more routes to the airport. The aim is to establish Shannon as an aviation industry hub. Importantly the bill includes legislation concerning the insolvency regime for aircraft assets that will now closely mirror Section 1110 of the US Bankruptcy Code, which specifically means that in the event of default, a creditor automatically has the right to repossess an aircraft asset after a period of 60